White House will announce additional oil reserve sales in wake of OPEC+ cut

President Joe Biden on Wednesday will announce the sale of an additional 15 million barrels from the Strategic Petroleum Reserve in December, a senior administration official said, as his administration seeks to counter market pressures created by the OPEC+ decision to cut oil production targets just three weeks from the midterm elections.

​President Joe Biden on Wednesday will announce the sale of an additional 15 million barrels from the Strategic Petroleum Reserve in December, a senior administration official said, as his administration seeks to counter market pressures created by the OPEC+ decision to cut oil production targets just three weeks from the midterm elections.